Turmeric ended steady on sluggish spot demand as traders awaited some correction in prices on hopes of higher acreage and on weak exports. Market may see some correction in prices as both local and overseas demand has come down at higher levels. In Nizamabad spot market, turmeric fell 74.5 rupees to end at 15,578.50 rupees. Market has opened at 15200 & made a low of 14942 versus the day high of 15298. The total volume for the day was at 8195 lots and the open interest was at 8905.Support for turmeric is at 14941 below that could see a test of 14763. Resistance is now seen at 15297 above that could see a resistance of 15475.
Chana dropped Rs 5 and settled at Rs 2405 per quintal as ample stocks weighed on sentiment. Prices are unlikely to fall much as spot demand is improving gradually. In Delhi spot market, chana gained 66 rupees to end at 2,350 rupees per 100 kg. The volume was noted at 193970 lots. Support for chana is at 2392 below that could see a test of 2378. Resistance is now seen at 2426 above that could see a resistance of 2446.
Mentha oil July contract gained Rs 0.3 and settled at Rs 688.7 a kg on profit-booking by speculators, driven by a weak demand in the spot market. Fresh arrivals from producing regions also put pressure on the prices in prices. The contract made intraday low of Rs 683.3 a kg and high of Rs 693 a kg with the volume of 1552 and total open interest for the same contact was at 4199.Now support for the menthol is seen at 683.7 and below could see a test of 678.6. Resistance is now likely to be seen at 693.4, a move above could see prices testing 698.
Pepper August delivery dropped Rs 47 and settled at Rs 21317/quintal as traders booked profits after the recent rally in prices on weak export demand. India's pepper exports fell 5 percent to 4,650 tonnes in April-June 2010 from the same period a year ago. Spot pepper climbed 430 rupees to end at 21,241 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 21719/quintal while low of Rs 21220/quintal. Now support for the pepper is seen at 21118 and below could see a test of 20920. Resistance is now likely to be seen at 21617, a move above could see prices testing 21918.
World refined nickel demand was 90,000 tons higher in January to May compared with the same period in the previous year. Nickel mine production during the period declined 5.7% on the year to 546,000 tons. Nickel has touched a low of Rs 912 a kg after opening at Rs.917.4, and last traded at Rs 946.3.For today market is looking for the support at 922.9, a break below could see a test of 899.5 and where as resistance is now likely to be seen at 958.8, a move above could see prices testing 971.3.Prediction Markets platform Kalshi has signed another agreement improving its product offering in which Kalshi supplies the underlying market data, while DoubleZero handles transport and distributi
News in Focus
Motilal Oswal Financial Services has reiterated a Buy call on Safari Industries with a target price of Rs 2,250, implying roughly 50% upside from the current market price of Rs 1,505.
Featured, India Business, Analyst View, Stock Markets, Auto Sector, ICICI Securities, India, Motherson Sumi Wiring
ICICI Securities has maintained its BUY rating on Motherson Sumi Wiring India, keeping its target price unchanged at Rs50 — a 25% upside from the current market price of Rs40.
Motilal Oswal Financial Services has reiterated a BUY rating on Marico, maintaining its target price at Rs1,050 — a 20% upside from the current market price of Rs875.
Featured, Company Results, Analyst View, Futures & Options, Bullion Update, India, Kalyan Jewellers, Motilal Oswal
Motilal Oswal Financial Services has reiterated a BUY rating on Kalyan Jewellers, maintaining a target price of Rs700 — an 18% upside from the current market price of Rs591.
Motilal Oswal Financial Services has reiterated a BUY rating on Nuvama Wealth, raising its target price to Rs2,100 — a 16% upside from the current market price of Rs1,804.
Main Regional Stories
Godrej Properties Share Price Could Reach Rs 2,350: Motilal Oswal Financial Services Remains Bullish
Featured, India Business, Analyst View, Stock Markets, Godrej Properties, India, Motilal Oswal, Real Estate
Godrej Properties Ltd reported a 22% year-on-year rise in pre-sales to Rs 86.5 billion in the first quarter of FY27, an 8% beat on brokerage estimates, driven by strong launches across Bengaluru, the Mumbai Metropolitan Region and the National Cap
Motilal Oswal Financial Services has retained its BUY rating on DLF Limited, setting a target price of Rs755, implying a 17% upside from the current market price of Rs643.
Motilal Oswal has reiterated a BUY rating on Blue Dart Express with a target price of Rs 6,100, implying 15% upside from the current market price of Rs 5,284.
Maharashtra has become the first Indian state to formally outlaw analogue paneer, a non-dairy imitation product linked to health complaints, in a sweeping one-year ban announced by Food and Drugs Administration (FDA) Commissioner Tukaram Mundhe.
